The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.
The most recent data from the National Association of REALTORS® reports the median single-family existing home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth. In new construction, builder confidence increased in November, surpassing analyst expectations and rising to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring, despite persistent labor and supply chain challenges and a shortage of available lots.
The Bottom line:
The U.S. real estate market remains strong as the economy continues to improve. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.
Let’s take a look at some of the numbers from the November 2021 data released by the
Great Plains Regional MLS:
November 2021 Omaha Area Real Estate Statistics
Average Sold Price: $304,481 (Up 9.6% from November 2020)
Homes Sold: 1,312 (Up 2.9% from November 2020)
New Listings: 1,092 (Down 1.3% from November 2020)
Pending Listings: 1,000 (Down 1.4% from November 2020)
Days on the Market: 13 Days (Down 23.5% from November 2020)
All data from Great Plains Regional MLS. Report © 2021 ShowingTime.
This report covers residential real estate activity in the Omaha area, which includes the counties of Dodge, Douglas, Sarpy, Saunders and Washington in Nebraska; the counties of Harrison, Mills and Pottawattamie in Iowa. Sources: Freddie Mac, Great Plains Regional MLS, and ShowingTime